Who can make deductible contributions to my traditional IRA?
Here is a list of who can make deductible contributions to your traditional IRA.
Deductible up to annual contribution limit:
- Single individuals not active in employer retirement plans
- Single individuals active in qualified retirement plans with MAGI below defined limits
- Married couples with neither spouse active in an employer retirement plan
- Married individuals active in qualified retirement plans filing joint tax returns with MAGI below defined limits
- Married individuals not active in qualified retirement plans filing joint tax returns with spouses who are, as long as MAGI is below defined limits